News
Border Closure Pushes Inflation Rate To 11.24% -NBS

The National Bureau of Statistics (NBS), yesterday, released the Consumer Price Index which measures inflation with the index rising to 11.24 per cent in September.
The 11.24 per cent represents an increase of 0.22 per cent when compared to the 11.24 per cent recorded in August.
The prices of food items have been on a steady increase since August when the Federal Government closed Nigeria’s borders to neighbouring countries.
However, the Federal Government has announced a total ban on the import and export of goods at the land borders nationwide in the ongoing joint border operation, tagged: “Exercise Swift Response”.
The operation began on August 20, 2019, involving Customs and Immigration with support from Army and other security agencies.
The joint border security is being coordinated by the Office of the National Security Adviser (ONSA) and covers the four geopolitical zones, including South-South, South-West, North-Central and the North-West.
Briefing newsmen in Abuja, the Comptroller General of Customs (CGC), Col. Hameed Ali (rtd) said: “The issue of movement of goods is not the same thing with movement of persons.
“Let’s understand that all perishable items are on prohibition whether on export or import. Therefore, nobody can carry tomato to the border to import or export. So, it makes it easier for us to close and ensure that all goods for now are banned from being exported or imported through our land borders.
“That is to ensure that we have total control over what comes in and what we do. We are strategizing on how best the goods can be handled when we get to when this operation will relax,” he noted.
Ali, however, advised local dealers, who want to export or to import items, to use the seaports is the only access at present.
On when the operations, which is nearly two months will end, Ali said, “It is as long as it will take our neighbours to come to the table and agree to execute exactly what was agreed upon during former Olusegun Obasanjo’s time which is simple adherence to ECOWAS transit procedure. That has not happened.”
In a response on how the operation is impinging on the fundamental rights of persons to movement, the Customs boss said, “When it comes to security, all other laws take a backseat. Nigeria must survive first then we can begin to consider your rights.”
Nevertheless, the Federal Government has refused entry for 1,111 irregular migrants in the past two months of the ongoing joint border operations just as it has removed 728 others who are already in the country.
The Comptroller General of Immigration, Mohammed Babandede, at a joint briefing with Customs in Abuja, who revealed this, said that the Nigeria Immigration Service (NIS) had also stopped many on irregular migration since August 20 when the operation began.
He said: “Before this operation, people enter into the country in and out. But this operation has enhanced the ECOWAS rule on entry and exit of persons.
“We have refused entry for 1,111 people who do not have the right travel documents to enter Nigeria. Among the 147 people we have arrested, many are not even citizens of ECOWAS states.
“We have arrested Pakistanis and North Koreans; we have deported seven and processing deportation of the others. 728 who have entered into the country have been removed,” he explained.
The Coordinator of the Exercise at the Office of the National Security Adviser (ONSA), Brig-Gen. Emmanuel Aliyu Ndagi, said the operation had promoted inter-agency harmony, adding that the agencies involved had been directed to use only minimum force in the process.
The Comptroller General of Customs (CGC), Col. Hameed Ali (rtd), who spoke on how the operation was impinging on the fundamental rights of movement, said: “When it comes to security, all other laws take a backseat. Nigeria must survive first then we can begin to consider your rights.”
Speaking on the gains, he said: “As it is in the last report, our consumption of petroleum products has reduced by 10.2 million litres which means that has been continuously been smuggled to our neighbouring countries.”
He said goods worth N1.43billion had been seized while operatives had arrested 317 suspected smugglers and 147 illegal migrants, seized 21,071 bags of foreign rice, 190 vehicles, 891 drums of petrol, 2,665 can of vegetable oil, 66,000 litres tanker of vegetable oil, 133 motorcycles, 70 cans of petrol and 131 bags of fertilizer used for making explosives.
“As a result of this closure, Niger Republic has already circulated an order banning exportation of rice in any form to Nigeria,” Ali added.
Meanwhile, President Muhammadu Buhari has approved the deployment of drones, aircraft and geospatial technology for the monitoring of borders, it was learnt, yesterday.
A source said the strategy was part of the e-Customs that the nation will use for the surveillance of the movement of illicit goods and persons.
With the procurement and deployment of the e-Customs, the borders shall record a watertight security that will foreclose the need for the erection of physical walls.
The source said: “The President has just approved e-Customs. E-Customs encompasses the deployment of border management technology, which will incorporate the use of drones, aircraft and other geo-spatial technology to be able to monitor our borders to ensure that any illicit movement of goods and persons do not take place. Once that is in place, I think we will be very safe that we do not need walls to be erected.”
This is coming on the heels of the joint operation border patrol code-named ‘EX-SWIFT RESPONSE.”
The Ex-SWIFT RESPONSE, coordinated by the Office of the National Security Adviser (ONSA), comprises the Nigerian Police Force, Nigerian Customs Service (NCS), Nigerian Immigration Service (NIS), the Nigerian Armed Forces and other security agencies to address trans-border security issues.
The Nigerian Immigration Service (NIS) Comptroller-General, Mohammed Babandede, disclosed in Abuja at the joint press briefing of the EX-SWIFT RESPONSE that President Buhari approved has enhanced the implementation of the ECOWAS protocol.
Following the implementation, the NIS, according to him, has ensured “if you don’t have travelling document, we (immigration) cannot allow you to leave Nigeria. We have refused the entrance of 1,111 people, who wanted to enter into Nigeria. “
Continuing, he said that we have removed people that have already entered, 728 people have been removed.”
Babandede revealed that there are non-ECOWAS nationals among those that the NIS arrested during the ongoing border closure.
The Immigration boss revealed: “We have arrested Pakistanis. We have arrested North Koreans. Those people are supposed to be deported. We have deported around seven of them. We getting the documentation to make sure they reach North Korean.”
He noted that illegal migrants have been banned from entering into Nigeria for life even through recognized routes.
He added that with the closure of borders, there has been reduction in banditry and kidnapping, stressing that some of the criminals are foreigners.
He vowed that the NIS operatives will continue the border monitoring to ensure that only legitimate migrants enter into Nigeria through the legal routes.
News
Tinubu Orders Security Chiefs To Restore Peace In Plateau, Benue, Borno

President Bola Tinubu has ordered a security outreach to the hotbeds of recent killings in Plateau, Benue and Borno States, to restore peace to areas wracked by mass killings and bomb attacks.
National Security Adviser, Nuhu Ribadu, disclosed this to State House correspondents after a four-hour security briefing with the President at the Aso Rock Villa, Abuja on Wednesday.
“We listened and we took instructions from him. We got new directives…to go meet with the political authorities there,” Ribadu told reporters, adding that Tinubu directed them to engage state-level authorities in the worst-hit regions.
Director-General, National Intelligence Agency, Mohammed Mohammed; Chief Defence Intelligence of the Nigerian Army, Gen. Emmanuel Undianeye; Director-General, Department of State Services, Oluwatosin Ajayi and Chief of Staff to the President, Femi Gbajabiamila, appeared for the briefing.
The Tide’s source reports that in Plateau State, inter-communal violence between predominantly Christian farmers and nomadic herders spiralled into gory slaughter when gunmen stormed Zikke village in Bassa Local Government early on April 14, killing at least 51 people and razing homes in a single night.
In Benue, at least 56 people were killed in Logo and Gbagir after twin assaults blamed on armed herders.
Meanwhile, in Borno State, eight passengers perished and scores were injured when an improvised explosive device ripped through a bus on the Damboa–Maiduguri highway on April 12.
Ribadu explained that after an extensive briefing, intelligence chiefs received fresh instructions to restore peace, security and stability across Nigeria.
“In particular, Tinubu had ordered immediate outreach to the political authorities in Plateau, Benue and Borno States, and the defence team had gone round those States to carry out his directives and report back.
“We gave him an update on what has been the case and what is going on, and even when he was out there, before coming back, he was constantly in touch. He was giving directives. He was following developments, and we, in charge of the security, got the opportunity today to come and brief him properly for hours. And it was exhaustive.
“We listened and we took instructions from him. We got new directives. The fact is, Mr. President is insisting and working so hard to ensure that we have peace, security and stability in our country. We gave him an update on what is going on, and we also assured him that work is ongoing and continues.
“We also carried out his instructions. We went round, the chiefs were all out where we had these incidents of insecurity in Plateau State, Benue State, even Borno, these particular three states, and we gave him feedback, because he directed us to go meet with the political authorities there,” the NSA explained.
Ribadu described Tinubu as “worried and concerned,” and said he directed that all security arms be deployed around the clock.
The government, he added, believes these steps have already produced measurable improvements, even if the situation is not yet 100 per cent safe and secure.
“He’s so worried and concerned, he insisted that enough is enough, and we are working and to ensure that we restore peace and security and all of us are there. The armed forces are there, the Civil Police, intelligence communities, they are there.
“They are working there 24 hours, and we feel that we have done enough to believe that we are on the right course, and we’ll be able to be on top of things,” Ribadu stated.
The NSA emphasised that combating insecurity was not solely a Federal Government responsibility.
He stated, “The issue of insecurity often is not just for the government. It involves the subunits. They are the ones who are directly with the people, especially if some of the challenges are more or less bordering on community problems.
“Not entirely everything is that, but of course it also plays a significant role. You need to work with the communities, the local governments, and the governors, especially the governors.
“The President will continue to direct that. We should be doing that, and that’s what we are able to. We are very happy and very satisfied with the instructions and directives given by Mr. President this evening.”
In Borno State, the NSA noted that while violence had surged in recent months, the insurgents refused to accept defeat.
He warned that most recent casualties there resulted from improvised explosive devices—”cowardly” IED attacks targeting civilians—and from opportunistic raids that follow any lull in fighting.
“We are getting the cooperation of the leadership at the state level, and everybody. It’s not 100 per cent…but we are going there.
“When you are having peace and you are beginning to get used to it, if one bad incident happens, you forget the periods that you enjoyed peacefully,” he added.
He paid tribute to the “many who do not sleep, who walk throughout, who do not go for any break or holiday”—the soldiers, police and intelligence officers whose sacrifices have created the fragile calm Nigerians now experience.
“They will continue to be there,” he said, adding, “Things have changed in this country…we are on the right track and we will not relent. We will not sit down; we will not stop until we are able to achieve results.”
News
FG Laments Low Patronage Of Made-In-Nigeria Products

A Federal Government agency – the National Agency for Science and Engineering Infrastructure, has decried the low patronage of Nigerian-made products by Nigerians.
The agency identified some challenges leading to the low patronage of the local products as affordability and public perception, among others.
Speaking during a stakeholders meeting organised by the agency in Akure, Ondo State capital, yesterday, the Deputy Director of Engineering at NASENI, Mr Joseph Alasoluyi, said Nigerians preferred buying foreign goods compared to local goods.
Alasoluyi, however disclosed that the agency had trained over 50 participants in the production of hand-made products, in a bid to ensure Nigeria-made products are patronised.
He explained that NASENI was set up to promote science, technology, and engineering as a foundation for Nigeria’s development and currently operates 12 institutes nationwide to achieve its objectives.
According to him, the aim of President Bola Tinubu, who is also the overall chairman of NASENI, was to ensure high production and patronage of “our local products thereby creating employment opportunities for many.”
He said, “The idea of this programme is to interface to ensure we produce products using our indigenous technology. This is what NASENI is out for, to ensure that homegrown technologies are encouraged.
“We are out there to ensure we integrate efforts to ensure that local technology is used to develop products within the resources we have.
“ The NASENI’s ‘3 Cs’ – Creation, Collaboration, and Commercialisation – that define NASENI’s strategic mandate: Creating innovations through research, Collaborating with partners to develop and refine products, and Commercialising these solutions to benefit the economy.
“Our achievements include the development of solar irrigation systems, CNG conversion centres, building machines capable of producing up to 1,000 blocks per hour, 10-inch tablets, locally made laptops, and electric tricycles (Keke Napep) set for market launch.”
In his remarks, the Deputy Vice Chancellor of the Federal University of Technology, Akure, Prof. Samuel Oluyamo, blamed the Federal Government for not properly funding research in the varsities, also noting that many research outputs were left halfway due to lack of funding and weak linkages between research institutions and industry.
Oluyamo also queried the Federal Government’s commitment to funding research and development, saying many academic innovations remained on the shelve due to a lack of support for commercialisation and poor infrastructure.
“Until we upscale research into mass production, technological growth will remain elusive. The government is not funding research in the universities enough. Thank God for TETfund that is trying in this regime. The major interest in beefing up research in universities and research institutions is really not there,” he said.
News
Nigeria Seeks Return To JP Morgan Bond Index
The Director-General of the Debt Management Office, Patience Oniha, has said that Nigeria is in advanced discussions with JP Morgan to re-enter the Government Bond Index and renew investors’ confidence.
Oniha disclosed this on Wednesday at a Nigerian Investors’ Forum on the sidelines of the World Bank and International Monetary Fund Spring Meetings in Washington, D.C.
The DMO boss explained that Nigeria has enjoyed favourable credit assessment among rating agencies in recent times on the back of the sweeping reforms initiated by the Central Bank of Nigeria.
Fitch Ratings recently upgraded the Long-Term Issuer Default Ratings of seven Nigerian banks and two bank holding companies to ‘B’ from ‘B-‘, noting that the outlooks are Stable.
The affected issuers are Access Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, Guaranty Trust Bank Limited, Guaranty Trust Holding Company Plc, First HoldCo Plc, First Bank of Nigeria Ltd, Fidelity Bank Plc and Bank of Industry Limited.
The upgrades of the Long-Term IDRs of the banks followed the recent sovereign upgrade and reflect Fitch’s view that Nigeria’s sovereign credit profile has become less of a constraint on the issuers’ standalone creditworthiness, the rating agency said.
Fitch also upgraded Nigeria’s Long-Term IDRs to ‘B’ from ‘B-‘ on 11 April, a decision that reflected increased confidence in the government’s broad commitment to policy reforms implemented since its move to orthodox economic policies in June 2023, including exchange rate liberalisation, monetary policy tightening and steps to end deficit monetisation and remove fuel subsidies.
“These have improved policy coherence and credibility and reduced economic distortions and near-term risks to macroeconomic stability, enhancing resilience in the context of persistent domestic challenges and heightened external risks,” Fitch said.
Nigeria was removed from the JP Morgan index in 2015 ostensibly due to its deviation from orthodox monetary policies and influence of capital control in its management of foreign exchange.
Principally due to reduction in oil revenues at the time, Nigeria introduced currency restrictions to defend the naira after it failed to halt a dangerous slide with burning of dollar reserves. The bank had earlier warned Nigeria to restore liquidity to its currency market in a way that allowed foreign investors tracking the index to conduct transactions with minimal hurdles.
“Foreign investors who track the GBI-EM series continue to face challenges and uncertainty while transacting in the naira due to the lack of a fully functional two-way FX market and limited transparency,” the bank said in a 2015 note.
Nigeria was listed in JP Morgan’s emerging government bond index in October 2012, after the Central Bank removed a requirement that foreign investors hold government bonds for a minimum of one year before exiting.
The JP Morgan Government Bond Index reflects investor confidence and opens doors to billions of investment flows, making Nigeria’s proposed re-entry a positive signal to the market and investors.
Oniha explained that talks with JP Morgan were ongoing and had gained momentum in recent times due to the stability created by the FX market reforms.
“With all the reforms that have taken place, particularly around FX, we have started engaging JP Morgan again to get back into the index. We think we are eligible now,” the DMO DG said.
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